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Manila Bulletin devider Business devider Trade & Industry devider REDC buys 95% stake in 25-MW Pulangi hydropower project for ₱32 million

REDC buys 95% stake in 25-MW Pulangi hydropower project for ₱32 million

Published Dec 3, 2025 10:22 am
Listed renewable energy firm Repower Energy Development Corp. (REDC) secured a majority ownership in the 25-megawatt (MW) Pulangi IV hydropower project in Bukidnon, moving to expand its hydropower portfolio.
REDC acquired a 95 percent equity stake, valued at ₱32 million, in project developer Maramag Hydropower Corp. (MHC), the company disclosed to the Philippine Stock Exchange on Wednesday, Dec. 3.
The Pulangi IV project in the Maramag municipality and will harness power from the Pulangi river. The site is near REDC’s existing Mindanao asset, the 18.2-MW Pulangi plant facility.
The newly acquired Pulangi hydropower project, which commenced commissioning and testing last week, cost around ₱4 billion. It is expected to produce an average of 130 gigawatt-hours (GWh) yearly, enough to energize approximately 54,000 households.
Eric Y. Roxas, REDC president, said the acquisition would extend the company’s utilization of Bukidnon’s longest river.
“Our acquisition of MHC’s Pulangi project marks our second investment in the area, and a significant step in REDC’s mission to expand clean, renewable, and indigenous hydropower for Mindanao,” Roxas said.
“Harnessing the Pulangi River’s potential through responsible hydropower development allows us to deliver dependable energy generation, while creating meaningful opportunities for the communities of Bukidnon,” he added.
REDC currently operates run-of-river plants in Quezon, Laguna, Bukidnon, and Bicol. The firm has four more hydropower projects in the pipeline worth a total of ₱10.3 billion, with development set to begin in the coming months. Repower is also aiming to complete the 4.5-MW Piapi hydropower plant within the next two years.
Recent weather conditions have bolstered the company’s financial performance. Hydropower generation provided a significant contribution this year, driving a 110 percent net income expansion to ₱226.1 million for the first nine months.
The Department of Energy (DOE) is anticipating an additional committed capacity of 841.9 MW for hydropower. The DOE currently tracks 210 projects under pre-development, 75 in the indicative phase, and 38 set for construction in the near future.
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